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The Unique Challenges of Procurement Planning for Construction Companies

ProcurementExpress.com

Construction teams face unique procurement challenges due to the complex nature of the business. It’s always been a struggle to get ahead of tight margins, cash-flow problems, and managing contracts. As technology changes the game, procurement is becoming a strategic juggling act. Procurement Software. Click Here.

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The Unique Challenges of Procurement Planning for Construction Companies

ProcurementExpress.com

Construction teams face unique procurement challenges due to the complex nature of the business. It’s always been a struggle to get ahead of tight margins, cash-flow problems, and managing contracts. As technology changes the game, procurement is becoming a strategic juggling act. Procurement Software.

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Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

Construction companies face more cash flow challenges than just about any other industry. There’s a lot to be said about the impact automation can have on processes like accounts payable, procurement, and more. Let’s take a look: Free Download: 6 Forecasting Best Practices All Construction Teams Need to Know Click Here.

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No easy rides for late payment reform

Construction Law

The UK government will take account of a supplier’s approach to payment when it comes to allowing it to tender for public sector projects, according to new payment practice rules. Under the new regime businesses that cannot demonstrate prompt payment face being cut out of public sector procurement processes. But perhaps for longer?

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Top 3 Tips for Improving Cash Flow as a Construction Contractor

ProcurementExpress.com

Construction companies face more cash flow challenges than just about any other industry. There’s a lot to be said about the impact automation can have on processes like accounts payable, procurement , and more. Embrace Automation. We’ve talked about this on, well, too many occasions to count. Speed Up Receivables.

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8 Tips to Manage Cash Flow Like Your Construction Business Depends on It

Autodesk Construction Cloud

Cash flow can make or break any business, especially in the construction industry. To successfully grow, construction firms need to effectively manage cash flow to procure materials, pay vendors and salaries, fund new projects, and finance other day-to-day business operations. Integrate accounting and operations.

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Real-Time Work-in-Progress Figures — Construction’s Secret Weapon

ProcurementExpress.com

Yes, WIPs are considered current assets – meaning, accountants consider inventory assets to be current, as they are expected to turn into cash within the year. But, procurement , project management, and the C-suite should all monitor WIP closely. WIP is one element of an inventory account.